401(k) · DOL Form 5500 · 2023

Southern Michigan Bancorp, Inc. 401(k) Plan

Data updated 2026-08-25

$19M
Total assets Small plan by assets
226
Participants Below avg headcount
71st
Percentile by assets National rank
$82,460
Avg per participant Below avg balance/head
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Official DOL plan name: Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · Sponsored by Southern Michigan Bancorp, Inc. · Michigan · Finance & Insurance

$19M in assets, 226 participants

Southern Michigan Bancorp, Inc.'s Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported $19M in total assets and 226 participants in its 2023 DOL Form 5500 filing, ranking in the 71st percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #5,104 in Finance & Insurance (8,869 peers)

Coverage in Michigan

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan covers 226 participants in Michigan, about 35% of the average Michigan filer (state average ~638 per filing). Assets: $19M.

#5,104
in Finance & Insurance (8,869 peers)
+6.4%
assets growth YoY

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's outsized position by total assets

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$18,635,946 Top 29% higher than 71% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (226 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported net income rose from -$3M in the plan year 2022 filing to $1M in the plan year 2023 filing.
  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported participants rose from 168 in the plan year 2022 filing to 226 in the plan year 2023 filing.
  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan end-of-year assets rose from $18M in the plan year 2022 filing to $19M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 382407501 · Southern Michigan Bancorp, Inc. PY 2023 · 401(k)

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · $19M · 226 · 71st

  • EBSA $19M
  • EBSA 226
  • EBSA 71st
  • EBSA 401(k)
  • EBSA near Hoj Management Co., Inc. 401(k) Profit Sharing Plan
  • EBSA ind #5104

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Michigan →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan in the asset neighbourhood

Southern Michigan Bancorp, Inc. Employee Stock Ownership PlanSouthern Michigan Bancorp, I…$19MLifemed Alaska, LLC 401(k) Profit Sharing Plan and TrustLifemed Alaska, LLC 401(k) P…$19MShah Smith & Associates, Inc. Profit Sharing PlanShah Smith & Associates, Inc…$19MHoj Management Co., Inc. 401(k) Profit Sharing PlanHoj Management Co., Inc. 401…$19MWestern Veterinary Partners LLCWestern Veterinary Partners …$19M
End-of-year total assets ($M) among Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Michigan filing particulars

Total Assets (Beginning of Year)$18M
Net Assets (End of Year)$19M
Net Income$1M
Employer EIN382407501
Plan Effective Date1986-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Southern Michigan Bancorp, Inc.)

Sponsor-wide plan assets over time

All Southern Michigan Bancorp, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$22M 28.234468143502262% vs 2022
2024 filing year
$16M$18M$20M$22M$24M 202220232024 $17.5M $22.5M ▲ +28.2%
Year Plans Participants Total Assets
2022 1 168 $18M
2023 1 226 $19M
2024 1 240 $22M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -50510152025 Total assets ($B) Participants Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.018635946 · Participants: 226Southern Michigan Bancorp, Inc. Employee Stock Ownership PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 20.378449285 · Participants: 47299General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 15.588575271 · Participants: 30516Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.084842211 · Participants: 18088The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 8.580684909 · Participants: 40393The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 7.617084451 · Participants: 59195Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Hoj Management Co., Inc. 401(k) Profit Sharing Plan in UT ($19M); by covered participants it is Cogent, Inc. Profit Sharing 401(k) Plan in MO (226 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (226 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan assets move in 2023? ▼
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan grew at a solid clip - up 6.4% during 2023, from $18M to $19M. Reported net income was $1M.
How have Southern Michigan Bancorp, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Southern Michigan Bancorp, Inc.'s sponsor-wide assets grew 28.2%, from $18M to $22M.
Which 401(k) plans are similar in size to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by assets is Hoj Management Co., Inc. 401(k) Profit Sharing Plan in UT ($19M, 189 participants).
Which 401(k) plans cover a similar participant headcount to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Cogent, Inc. Profit Sharing 401(k) Plan in MO (226 participants, $29M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 382407501.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.